Neptune Festival brings economic boost to Virginia Beach

VIRGINIA BEACH, Va. (WAVY) — Virginia Beach is getting ready to rake in the big bucks at this weekend’s Neptune Festival, which is estimated to generate several million dollars.

As more than 400 tents and booths line the Boardwalk at the Oceanfront, the Neptune Festival’s 50th anniversary event comes with a financial booster shot for the city.

Last year, it generated more than $24.5 million for the city, with about $1.3 million in tax revenue. The city estimates that, for every dollar it spent on the festival, they got about $2.50 in return.

Provided the weather behaves, the city anticipates around 400,000 visitors to the festival. Some of these people are spending money on not just the festival itself, but also on the expected 27,000 hotel room nights, with many coming to the city specifically for the festival.

“We have a hotel down on 22nd Street that is entirely full of people who come every single year,” said Melanie Gazzolo, Neptune Festival director of marketing and special events. “They call themselves the Neptune diehards, and they have four generations of people who have been coming down for the Neptune Festival.”

With Something in the Water canceling its October event, this marks the end of festival season in Virginia Beach. The Neptune Festival started at noon Friday and continues through 6 p.m. Sunday.

“What we tend to say is the end of summer here in Virginia Beach is with the Neptune Festival,” Gazzolo said.

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